Northeast Community Bancorp Inc. (NASDAQ:NECB) Announces $0.25 Quarterly Dividend

Northeast Community Bancorp Inc. (NASDAQ:NECB) declared a quarterly dividend on Wednesday, September 23rd. Investors of record on Friday, October 9th will be paid a dividend of 0.25 per share by the savings and loans company on Friday, November 13th. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, October 9th.

Northeast Community Bancorp has raised its dividend by an average of 0.5%per year over the last three years and has raised its dividend every year for the last 2 years. Northeast Community Bancorp has a payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Northeast Community Bancorp to earn $3.57 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 28.0%.

Northeast Community Bancorp Stock Performance

Northeast Community Bancorp stock traded down $0.09 on Thursday, reaching $26.29. 2,823 shares of the stock were exchanged, compared to its average volume of 42,806. The stock has a market cap of $361.92 million, a PE ratio of 8.45 and a beta of 0.36. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. Northeast Community Bancorp has a twelve month low of $19.27 and a twelve month high of $28.94. The firm has a fifty day moving average price of $26.77 and a two-hundred day moving average price of $25.50.

Northeast Community Bancorp (NASDAQ:NECB) last issued its quarterly earnings results on Monday, July 27th. The savings and loans company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.04). Northeast Community Bancorp had a net margin of 27.67% and a return on equity of 12.00%. The business had revenue of $25.29 million during the quarter, compared to analyst estimates of $25.76 million. Sell-side analysts anticipate that Northeast Community Bancorp will post 3.16 EPS for the current year.

Insider Buying and Selling at Northeast Community Bancorp

In related news, CFO Donald S. Hom sold 3,000 shares of Northeast Community Bancorp stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $27.20, for a total transaction of $81,600.00. Following the sale, the chief financial officer directly owned 4,714 shares of the company’s stock, valued at $128,220.80. This trade represents a 38.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.12% of the company’s stock.

Hedge Funds Weigh In On Northeast Community Bancorp

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Northeast Community Bancorp in the second quarter valued at $35,060,000. Dimensional Fund Advisors LP boosted its stake in Northeast Community Bancorp by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 466,870 shares of the savings and loans company’s stock worth $11,112,000 after buying an additional 25,687 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Northeast Community Bancorp in the 2nd quarter valued at $4,611,000. Renaissance Technologies LLC increased its holdings in Northeast Community Bancorp by 19.4% in the 1st quarter. Renaissance Technologies LLC now owns 176,205 shares of the savings and loans company’s stock valued at $4,194,000 after buying an additional 28,605 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of Northeast Community Bancorp in the 2nd quarter valued at $2,690,000. Institutional investors and hedge funds own 53.25% of the company’s stock.

Northeast Community Bancorp Company Profile

Northeast Community Bancorp, Inc is the holding company for NorthEast Community Bank, a community-focused financial institution headquartered in White Plains, New York. The bank traces its roots to 1934 and provides banking services to individuals, families, businesses and nonprofit organizations in the communities it serves.

NorthEast Community Bank offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit. Its lending activities include residential and commercial real estate loans, multifamily and construction financing, home equity loans and other consumer and business credit products.

The company operates through a branch network serving customers in parts of New York and neighboring New England markets.